CMC LTD. - Outcome of Board Meeting

CMC Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 16, 2014, have approved the Scheme of Amalgamation of the Company with the Tata Consultancy Services Limited (TCS), based on the recommendation of the Audit Committee. The share exchange ratio for this is proposed at 79 equity shares of Re. 1 each of TCS for every 100 equity shares of Rs. 10 each of CMC.<br/><br/>The above scheme of Amalgamation will be subject to all regulatory approvals as required under law.